HPI check reveals 'Outstanding Finance'

[Securit]

Hi all,

After a little advice about a HPI check result, I have searched the forums and found nothing exactly the same but some similar threads from a while back.

I am in the process of buying a used vehicle from a Audi main dealership, its fairly expensive so I have conducted a HPI check even thought its a main dealer.

This has revealed an alert that there is 'outstanding finance' on the vehicle as per below. (I have cut the vehicle type and reference number out for privacy). The date of first registration is 30/09/2016 as is the date of first keeper. The HPI check details show the outstanding finance from the 03/10/2016.

My thinking is that this vehicle was on PCP or something similar (mainly due to the dates) and that it has been returned after one year and the finance has not been cleared off the system. But this is purely guess work.

I am going to contact the finance company and ask if they have an interest/claim towards the vehicle. As this is from an Audi main dealer I am surprised that this has come up. Would Audi not have resolved this before taking control of the vehicle and listing it for sale? Their approved used car website infers that they perform checks on their vehicles before selling them on, which is what I would expect from any main dealership.

https://www.audi.co.uk/used-cars/why-buy-approved.html

Any opinions or experiences would be appreciated. I am loathe to part with a large amount of cash and then have difficulties later with the finance company or Audi.

Thanks
S

[Kati]

Re: HPI check reveals 'Outstanding Finance'

tagging [MENTION=71570]R0b[/MENTION] [MENTION=39710]des8[/MENTION] ??

[des8]

Re: HPI check reveals 'Outstanding Finance'

Hi and welcome

I personally wouldn't part with a single sous until the finance company confirmed in writing that they no longer had an interest in the said vehicle.

[Securit]

Re: HPI check reveals 'Outstanding Finance'

Hi and welcome

I personally wouldn't part with a single sous until the finance company confirmed in writing that they no longer had an interest in the said vehicle.

Thanks to you both,

When I speak to the finance company I will request that they post something to me to that effect, not that I can force them to do that but being civil and talking nicely might work in the first instance. I am also going to contact Audi and ask them what they make of the check. Clearly though they will say anything to sell the vehicle and worry about the repercussions later.

Thanks
S

[Securit]

Re: HPI check reveals 'Outstanding Finance'

Thanks to you both,

When I speak to the finance company I will request that they post something to me to that effect, not that I can force them to do that but being civil and talking nicely might work in the first instance. I am also going to contact Audi and ask them what they make of the check. Clearly though they will say anything to sell the vehicle and worry about the repercussions later.

Thanks
S

So the saga continues.....

I have contacted the Finance Company who have refused to discuss any details of the finance with me due to data protection, they were not even interested in taking any information from me at all and would not even confirm if anything was outstanding. Not really a lot I can do about that.

The Audi dealership have stated that the vehicle was initially leased by an Audi Employee under a company car scheme, when this scheme is finished the vehicle is returned to Audi UK. Local Audi branches can then lease the vehicle back from Audi UK and display it on their forecourts with a view to selling it. All the time it is on the forecourt it shows as having outstanding finance due to the way it is handled by Audi Finance.

The vehicle shows on HPI as having 0 previous owners. Clearly this has been owned by Audi who have leased it out but there is no indication of another party owning it at any point.

Audi have stated that they would supply me with a clear HPI certificate/check at point of sale and also a letter to state that they would be liable should anything come of the matter (not that its worth the paper its written on)

Thanks
S

[wales01man]

Re: HPI check reveals 'Outstanding Finance'

Walk away from it

[des8]

Re: HPI check reveals 'Outstanding Finance'

Well as it is a Credit Sale the finance company have no call on the vehicle if the borrower defaults.
In a credit sale the ownership of the goods passes immediately to the purchaser

[Securit]

Re: HPI check reveals 'Outstanding Finance'

Update: Matter Resolved

Spoke with Audi again and they have contacted the finance company, which is actually part of Audi.

They have cleared the marker off the finance section of the HPI check, so it’s now all clear.

Audi will supply me with a copy of another separate HPI check at time of me purchasing the vehicle (if I do) which will confirm no finance outstanding etc. I can not really do anymore than that.

Thanks for everyone’s help.
S